Europe

Greece’s inflation jumped to 11.3% in May, the highest in 29 years

Greece’s annual consumer inflation rate surged to 11.3%, the highest level in May 29 years, against the backdrop of soaring energy, housing, transportation and food, official data said Thursday.

Inflation has skyrocketed from 10.2% in April, according to statistics service ELSTAT. Consumer inflation rose 0.7% month-on-month.

Greece’s EU-friendly annual inflation rate also surged from 9.1% in April to 10.5% in May, further squeezing disposable income.

EU harmonized inflation is an indicator of the factors used throughout the EU to measure inflation in a consistent way.

According to ELSTAT, natural gas prices rose 172.7% annually, electricity prices rose 80.2%, and kerosene prices rose 65.1%.

According to the data, housing costs were up 35.0% year-on-year, transportation costs were up 18.8%, and food and non-alcoholic beverages were up 12.1%. [Reuters]

https://www.keeptalkinggreece.com/2022/06/09/inflation-greece-may-2022-11-3/ Greece’s inflation jumped to 11.3% in May, the highest in 29 years

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